Banking solution for Indian crypto users by Cashaa

webtricks

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Quote from: sureshnsnet on October 22, 2019, 07:49:38 AM

Cashaa going to lunches the banking services platform to Indian crypto users it will help Indian crypto users facing banking restrictions imposed by the reserve bank of India. The service allows users to deposit up to 1 crore rupees per month to purchase cryptocurrencies.

Cashaa may start such service. It is not difficult to start one. We only need an Indian Current Bank Account to start. But the question is how long can it sustain?
RBI has clear directive to banks to not provide any kind of banking services to crypto-based business. As soon as bank will notice that Cashaa is providing crypto-purchase services, their account will be limited and users' funds will get stuck.

libert19

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Cashaa has surely taken interest of Indian crypto community, I can't wait to see how this one folds out.

ragavancoin

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Quote from: SaShiRaJaVu on October 22, 2019, 03:32:02 PM

Quote from: avikz on October 22, 2019, 12:57:28 PM

I see that Cashaa roadmap is showing that they are going to open an office in New Delhi. I wish them all the best! I would be very happy if they are able to bring some changes in the current crypto scenario of India. But I will personally still prefer p2p trading without going through a centralized exchange until crypto is fully legal in India!

I cannot understand how these companies can function in India and recently Bithumb was showing interest to start their business in India, no clue how they can do that when the Indian government literally buried all the Indian exchanges with the help of RBI and if they accept these foreign companies to function while they literally killed the business in India Roll Eyes

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I think something is going to happening in india next year because already bithumb announced to do crypto business in India now cashaa interstated to run crypto business in India. It all good things happening but way indian government and RBI not allowed do the regulation for crypto currencies? Maybe India government will give good news regarding crypto regulation soon.

SaShiRaJaVu

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Quote from: avikz on October 22, 2019, 12:57:28 PM

I see that Cashaa roadmap is showing that they are going to open an office in New Delhi. I wish them all the best! I would be very happy if they are able to bring some changes in the current crypto scenario of India. But I will personally still prefer p2p trading without going through a centralized exchange until crypto is fully legal in India!

I cannot understand how these companies can function in India and recently Bithumb was showing interest to start their business in India, no clue how they can do that when the Indian government literally buried all the Indian exchanges with the help of RBI and if they accept these foreign companies to function while they literally killed the business in India Roll Eyes

.

avikz

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Quote from: sureshnsnet on October 22, 2019, 07:49:38 AM

Cashaa going to lunches the banking services platform to Indian crypto users it will help Indian crypto users facing banking restrictions imposed by the reserve bank of India. The service allows users to deposit up to 1 crore rupees per month to purchase cryptocurrencies.

Please understand the risk of using a centralized exchange service like Cashaa! I am not demotivating anyone but just want to sketch out the risks.

1. Cashaa is a company based out of UK. It's very easy to identify an user using their service because it involves foreign remittance! As per RBI guideline, every foreign company doing business in India, must provide the details of their client's identity and funds! Like Paypal does!

2. It is evident that Cashaa is a registered crypto exchange. Anyone sends or receives funds from a known crypto broker, immediately brakes the rules of RBI, thus their account can be immediately banned without any second thought!

I see that Cashaa roadmap is showing that they are going to open an office in New Delhi. I wish them all the best! I would be very happy if they are able to bring some changes in the current crypto scenario of India. But I will personally still prefer p2p trading without going through a centralized exchange until crypto is fully legal in India!

Clement Kaliyar

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Quote from: sureshnsnet on October 22, 2019, 07:49:38 AM

Cashaa going to lunches the banking services platform to Indian crypto users it will help Indian crypto users facing banking restrictions imposed by the reserve bank of India. The service allows users to deposit up to 1 crore rupees per month to purchase cryptocurrencies.

So finally they will launch something for the Indian users and it looks attractive, what will the government think about it and what steps are they going to take is the bigger picture here. If the RBI restricts the banks to deal with Cashaa then this option is done for good and i am not happy with the way things are going in India.

sureshnsnet

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Cashaa going to lunches the banking services platform to Indian crypto users it will help Indian crypto users facing banking restrictions imposed by the reserve bank of India. The service allows users to deposit up to 1 crore rupees per month to purchase cryptocurrencies.

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